Commodity exchange, traders raided by I-T sleuths

Income Tax authorities raid commodity exchange traders all over the country, including 50 locations in the financial capital.

Income Tax authorities on Tuesday raided commodity exchange traders all over the country, including 50 locations in the financial capital.

"We have carried out raids on Multi Commodity Exchange and some other places. The raids are on all over India. Investigation is still on," a senior Income Tax official told PTI.

Raids were carried out in the offices of Multi Commodity Exchange (MCX) and the some trading members, the official said, without giving further details.

Confirming the development, a MCX spokesman said the investigation was routine as part of reconciliation of accounts.

A report from Ahmedabad said, I-T officals raided the house and office premises of a senior MCX official. The raid in Ahmedabad was conducted in connection with the certain discrepencies in the official's tax record, agency sources said.